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Visa plans Syria launch after deal with central bank on digital payments

Middle East News

04-12-2025 | 09:57

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Visa plans Syria launch after deal with central bank on digital payments

Visa said on Thursday that it plans to launch operations in Syria, following an agreement with Syria's central bank on a roadmap to develop a digital payments ecosystem, according to a company statement.

"The immediate focus will be on working with licensed financial institutions to develop a robust and secure payments foundation. This includes issuing payment cards and enabling digital wallets using global standards," Visa said.

In November, the International Monetary Fund visited Damascus and said it will provide technical assistance on financial sector regulation, the rehabilitation of payment and banking systems and rebuilding the central bank's capacity to effectively implement monetary policy for low and stable inflation and supervision of the banking system.

Reuters

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